Daily analysis of USDX for April 10, 2017


The index had a strong bullish rally during Friday despite bad NFP data released in the United States. Currently, it’s challenging the resistance zone of 101.25, which is the last hurdle before to reach the 101.62 level across the board. The overall view is still bullish, as it remains well consolidated above the 200 SMA in the Easter’s week.

H1 chart’s resistance levels: 101.25 / 101.62

H1 chart’s support levels: 100.75 / 100.43

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 101.25, take profit is at 101.62 and stop loss is at 100.87.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Daily analysis of USDX for April 10, 2017

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